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KEY STOCKS FOR THE WEEK 02/04—06/04
Ventspils Nafta and Latvijas Kugnieciba, Latvian crude oil transit and its daughter tanker company, are both expected to received positive feedback from investors after an option to buy 49% stake in Ventspils Nafta has been sold to an unnamed Russian firm by the mother company LNT. In case the deal actually goes through, it would mean an end to a continuing ownership crisis, and, possibly, increased liquidity for the companies’ shares.
Lietuvos Elektrine, Lithuania’s biggest non-nuclear supplier of electricity, is likely to continue its strong upward trend after independent valuation company has strengthened the position of one of the minority shareholders in a court driven attempt to force the government to place a mandatory bid for share repurchase at a price of LTL 7.39, significantly (+42.66%) above its current market value of LTL 5.18.
Although the share price of Ukio Bankas has shown a little downward correction to LTL 4.21 last of week, its post-share-issue diluted value still stands at ~LTL 3.59, leaving a big gap for further correction.
LAST WEEK IN THE BALTIC STOCK MARKETS: ALL 3 MARKETS ABOVE THEIR BEGINNING-OF-YEAR LEVELS...
As expected, Lietuvos Energija, Vakaru Skirstomieji Tinklai, and, even if less pronounced, Rytu Skirstomieji Tinklai have all been enjoying a good share price performance last week (+5.3%, +6.2%, and +1.4% respectivelly), driven by so far successful march of the law proposal to merge the three energy companies into a major shareholder of Lithuania’s future nuclear plant.
Siauliu Bankas has managed to make it to top 3 of the most traded companies of the week despite being open for trading only on Friday, when the company’s shares have seen an anticipated dive down by -13.6%, only a fraction higher than the calculated diluted value of LTL 3.64.
Share price of Lithuanian oil transit company Klaipedos Nafta has enjoyed a +2.7% rise during the week as Polish oil company PKN Orlen has expressed interest in acquiring the firm’s controlling stake from the government, in a move to secure consistent supply of crude oil for the Mazeikiu Nafta refinery it owns.
Baltika, Estonian apparel wholesale and retail company, has announced an increase of share capital by splitting the outstanding shares 3-to-1, driving share price up by +6.9% last week. While not having a value enhancing impact on its own, it should be viewed in a light of Apranga’s similar move a few years back, when
the increased liquidity and psychological effect that came along resulted in huge percentage gains for the stock price.
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Mantas Pakėnas
Akcijų analitikas / Equity Analyst
Kapitalo rinkų skyrius / Capital Markets Unit
AB DnB NORD bankas
Tel: (370) 5 239 3776
Fax: (370) 5 239 3783
Mantas.Pakenas@dnbnord.lt
Ventspils Nafta and Latvijas Kugnieciba, Latvian crude oil transit and its daughter tanker company, are both expected to received positive feedback from investors after an option to buy 49% stake in Ventspils Nafta has been sold to an unnamed Russian firm by the mother company LNT. In case the deal actually goes through, it would mean an end to a continuing ownership crisis, and, possibly, increased liquidity for the companies’ shares.
Lietuvos Elektrine, Lithuania’s biggest non-nuclear supplier of electricity, is likely to continue its strong upward trend after independent valuation company has strengthened the position of one of the minority shareholders in a court driven attempt to force the government to place a mandatory bid for share repurchase at a price of LTL 7.39, significantly (+42.66%) above its current market value of LTL 5.18.
Although the share price of Ukio Bankas has shown a little downward correction to LTL 4.21 last of week, its post-share-issue diluted value still stands at ~LTL 3.59, leaving a big gap for further correction.
LAST WEEK IN THE BALTIC STOCK MARKETS: ALL 3 MARKETS ABOVE THEIR BEGINNING-OF-YEAR LEVELS...
As expected, Lietuvos Energija, Vakaru Skirstomieji Tinklai, and, even if less pronounced, Rytu Skirstomieji Tinklai have all been enjoying a good share price performance last week (+5.3%, +6.2%, and +1.4% respectivelly), driven by so far successful march of the law proposal to merge the three energy companies into a major shareholder of Lithuania’s future nuclear plant.
Siauliu Bankas has managed to make it to top 3 of the most traded companies of the week despite being open for trading only on Friday, when the company’s shares have seen an anticipated dive down by -13.6%, only a fraction higher than the calculated diluted value of LTL 3.64.
Share price of Lithuanian oil transit company Klaipedos Nafta has enjoyed a +2.7% rise during the week as Polish oil company PKN Orlen has expressed interest in acquiring the firm’s controlling stake from the government, in a move to secure consistent supply of crude oil for the Mazeikiu Nafta refinery it owns.
Baltika, Estonian apparel wholesale and retail company, has announced an increase of share capital by splitting the outstanding shares 3-to-1, driving share price up by +6.9% last week. While not having a value enhancing impact on its own, it should be viewed in a light of Apranga’s similar move a few years back, when
the increased liquidity and psychological effect that came along resulted in huge percentage gains for the stock price.
------------------
Mantas Pakėnas
Akcijų analitikas / Equity Analyst
Kapitalo rinkų skyrius / Capital Markets Unit
AB DnB NORD bankas
Tel: (370) 5 239 3776
Fax: (370) 5 239 3783
Mantas.Pakenas@dnbnord.lt
